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Self-Storage Facility

Budget Storage

2618 N College Rd, Wilmington, NC 28405

Listing Price: $8,300,000

Cap Rate
1.65%
Number of Units
454
Occupancy
45.0%
Gross SF
56,750
Rentable SF
56,750
Price/Rentable SF
$146.26
Year Built
2022

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Budget Storage located at 2618 North College Road in Wilmington, North Carolina. The facility currently features 349 climate-controlled units, 101 non-climate-controlled units, and four outdoor parking spaces that make up 56,750 net rentable square feet. The facility was opened in 2022 and is situated on 8.05 acres of land. The facility has already achieved physical occupancy of 45.20 percent and has room for expansion.

Investment Highlights

  • Wilmington, North Carolina Newly Built Single-Story Facility with Large Upside
  • 56,750 Net Rentable Square Feet | 454 Units
  • Site Opened in 2022 and Already Over 45 Percent Occupied
  • Well Below Market Lease Up Rates
  • Room for Expansion

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Self-Storage Facility

Budget Storage

Listing Price: $8,300,000

Cap Rate
1.65%
Number of Units
454
Occupancy
45.0%
Gross SF
56,750
Rentable SF
56,750
Price/Rentable SF
$146.26
Year Built
2022

Investment Highlights

  • Wilmington, North Carolina Newly Built Single-Story Facility with Large Upside
  • 56,750 Net Rentable Square Feet | 454 Units
  • Site Opened in 2022 and Already Over 45 Percent Occupied
  • Well Below Market Lease Up Rates
  • Room for Expansion

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Budget Storage located at 2618 North College Road in Wilmington, North Carolina. The facility currently features 349 climate-controlled units, 101 non-climate-controlled units, and four outdoor parking spaces that make up 56,750 net rentable square feet. The facility was opened in 2022 and is situated on 8.05 acres of land. The facility has already achieved physical occupancy of 45.20 percent and has room for expansion.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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